6.6 C
Thursday, December 7, 2023

Elevate Uranium: Carbon-Free Energy


As decarbonization and electrification continue to develop around the world, carbon-free nuclear power is required to achieve both changes. Why is this the case? It’s simple—nuclear fuel is about 1 million times greater than traditional energy sources due to its density.

Nuclear power is central to the clean energy movement as it produces zero carbon emissions, prevents air pollution, spans a smaller land footprint and produces minimal waste. Nuclear energy is generated through fission, which is when uranium atoms are split to produce energy. As a result, the uranium market presents an exciting opportunity for investors seeking to capitalize on the clean energy movement.

Elevate Uranium Limited (ASX:ELA) is an Australian mineral exploration and development company specializing in identifying, exploring and acquiring highly prospective uranium projects in Australia and Namibia. The company is the largest tenement holder for uranium in Namibia, which is the fourth-highest uranium-producing country in the world as of 2019. The company is backed by a management team with over 44 years of experience in the uranium sector and a proven track record in the exploration and development of various mining projects.

Elevate Uranium has several projects in Namibia and Australia, with the potential for high-grade uranium and high-grade gold discovery. In Namibia, the company has the Koppies, Hirabeb, Namib IV, Marenica and Mile 72 projects. Meanwhile, in Australia, the company has the Angela, Thatcher Soak, Minerva and Oobagooma projects, as well as the Bigrlyi, Walbiri and Malawiri joint venture projects.

“There are two things that excite us. First is the uranium market and where nuclear energy is headed. The second thing is we can’t control uranium price but we can control what we’re doing. We’re aggressively exploring. We’ve got multiple projects, we’re geographically diverse, and we stand out from our peers because we have U-pgradeTM,” said Elevate Uranium CEO Murray Hill.

The company’s fully-owned and patented breakthrough U-pgradeTM is a beneficiation process developed in collaboration with CSIRO that could provide Elevate Uranium with a significant competitive advantage. U-pgradeTM enables the removal of non-uranium bearing minerals by rejecting more than 95 percent of the mass of a mined ore. U-pgradeTM allows Elevate Uranium to capitalize on exploration opportunities by potentially reducing overall capital and operating expenditures by 50 percent. Additionally, U-pgradeTM provides potential environmental benefits. The company expects that U-pgradeTM will apply to all of its assets.

Elevate Uranium’s notable Marenica project in Namibia has a resource estimate of 61 million pounds at 93 ppm of uranium and a cut-off grade of 50 ppm from two deposits. U-pgradeTMhas demonstrated to increase Marenica project ore grade from 93 ppm to approximately 5,000 ppm of uranium, thus reducing overall costs and increasing value. Elevate Uranium’s projects in Australia have estimated resources of 48 million pounds of uranium, with grades as high as 1,310 ppm in the Angela project.

The company leverages strategic positioning as it is located near several uranium-producing mines. The company has projects located 60 kilometers from Rossing Uranium’s world-class uranium mine that has operated continuously since 1976. The company also has projects located near Orano’s Trekkopje, China General Nuclear Power Group and Swakop Uranium’s Husab and Paladin’s Langer Heinrich uranium mines.

In July 2021, the company completed an airborne electromagnetic assessment on the Koppies, Hirabeb and Namib IV projects, and is currently awaiting the results. The company has conducted extensive exploration on its Namibian and Australian properties and began drilling on some of its Namibian properties. Going forward, the company plans to begin drilling on all of its properties.

Elevate Uranium is a proud sponsor of Vultures Namibia, which is a conservation initiative for preserving the endangered lappet-faced vultures. The company provides satellite GPS tracking on each vulture per hour for the protection program and is committed to fostering change.

The company also possesses a strong financial structure. Elevate Uranium has 227 million shares issued and 32 million options issued, with a market capitalization of $75 million. Elevate Uranium has $4.8 million in cash on hand and does not have any debt.

The post Elevate Uranium: Carbon-Free Energy appeared first on Investing News Network.

Source link

Related Articles

Latest Articles